認繳制下公司法人格否認規則對資本顯著不足情形的適用

On the Application of the Rule of Disregarding the Corporate Entity to the Case of Significant Undercapitalization Under the Subscribed Registered Capital System

公司資本認繳制改革後，以往適用法定最低註冊資本判斷公司資本是否顯著不足，以適用法人格否認規則的裁判邏輯已經失去土壤根基。儘管《全國法院民商事審判工作會議紀要》將資本顯著不足正式確立為公司法人格否認規則的事由之一，但是資本顯著不足在認繳制下是否還有適用空間仍有很大爭議。經司法裁判案例實證分析，認繳制下資本的出資數額與期限的隨意性，導致部分公司經營事業與風險不匹配，而資本顯著不足司法裁判標準的不統一，也使得債權人風險隨之增大。然，資本顯著不足在認繳制下仍有適用空間。根據債的不同，資本顯著不足在自願之債與非自願之債中所扮演的角色和發揮的作用有所不同。具體而言，首先，在自願之債中，很少單獨適用資本顯著不足，但其存在一個例外情形即欺詐；而在非自願之債中，資本顯著不足可成為唯一的決定性因素。其次，尚需要厘清資本的涵義、適用時間節點和顯著不足的界定方法。

After the reform of the system of the company’s registered capital subscription, the adjudicated reasoning of applying the rule of disregard of legal personality to judge whether the company’s capital is obviously insufficient by applying the legal minimum registered capital has lost its foundation. Despite the fact that the Minutes of the National Conference on Civil and Commercial Judicial Work of the Courts formally established significant capital deficiency as one of the grounds for the rule of corporate personality denial, however, there is still much controversy as to whether there is still room for the application of the significant insufficiency of capital under the subscription system. The judicial decisions have shown that the arbitrariness of the amount and duration of capital contribution under the subscription system has led to a mismatch between the business and risk of some companies, while the lack of uniformity in the judicial standards for the adjudication of significant capital deficiency has also increased the risk to creditors. However, there is still room for the application of significant undercapitalization under the contributory system. Depending on the type of debt, the role of significant undercapitalization differs between voluntary and involuntary debts. Specifically, firstly, in voluntary debt, significant capital deficiency is rarely applied in isolation, although there is an exception for fraud, whereas in involuntary debt, significant capital deficiency can be the sole determining factor. Secondly, there is a need to clarify the meaning of capital, the point in time when it applies and the method of defining a significant deficiency.